Colorado Technology Association Supports Extending AI Investment Tax Credits
Colorado Technology Association is supporting HB17-1090, The Advanced Industries Investment Tax Credit Extension. This bill will continue a program that offers a tax credit to individuals who make investments in small businesses operating in the advanced industries.
Since 2014, 126 tax credits have been awarded spurring $9,735,659 total investments in companies. Tax credits applied for with Information Technology as the primary industry account for a large portion of the overall credits. Additionally, seven out of the eight investor applications denied due to annual limits included Information Technology as the primary industry. The Colorado Office of Economic Development and International Trade (OEDIT) also estimates 424 new hires based on the investment through the program.
For more information on the program and how to apply, visit the Advanced Industries Investment Tax Credit page on OEDIT’s website. You can also view OEDIT’s program numbers from 2014 through 2016 below.
Supporters of HB17-1090 include:
- Colorado Technology Association
- Colorado BioScience Association
- Colorado Cleantech Industries Association
- Colorado Competitive Council
- Colorado Association of Commerce and Industry
- Denver Metro Chamber of Commerce
- Douglas County Business Alliance
- High Altitude Investors
- Lockheed Martin
- Rocky Mountain Innovation Partners